raises Archives - Pinfaves

Coinbase Co-Founder’s New VC Firm Paradigm Raises $2.5 Billion for Crypto Investments

November 17, 2021November 17, 2021 Loknath Das$2.5, Billion, Co-Founder's, Coinbase, Crypto, Firm, for, New, Paradigm, raises, VC

Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital Partner Matt Huang have raised $2.5 billion (roughly Rs. 18,598 crore) for a venture capital fund aimed at the “next generation of crypto companies and protocols” called Paradigm One, making it the biggest crypto VC fund. Paradigm One was launched in 2018 with an initial $400 million (roughly Rs. 2,976 crore), and the eventual amount raised is double the initial investment goal for the VC fund. The size of Paradigm’s fund highlights the anticipation of a major boom in the crypto industry among…

[Funding alert] Education financing startup Propelld raises Rs 15 Cr from Stellaris Venture Partners and India Quotient

July 3, 2019July 3, 2019 Loknath Das15, Alert, and, Cr, Education, financing, From, Funding, India, Partners, Propelld, raises, Rs., Startup, Stellaris, venture

Propelld, a Bengaluru-based fintech startup that enables student education loans, on Monday, announced that it has raised Rs 15 crore from Stellaris Venture Partners and India Quotient. Existing investor India Angel Network Fund (IAN Fund) also participated in the round. Other investors in the round include Raghunandan G, founder of Taxiforsure and Ramakant Sharma, founder of Livspace, who participated as members of Stellaris’ Founder Network. Bibhu Prasad Das, Founder, Propelld said, “We are expanding the education credit market by creating tailor-made loan products with inputs from our institute and NBFC partners,…

Lifestyle goods resale marketplace StockX raises $110M, pushing valuation past $1B

June 28, 2019June 28, 2019 Loknath Das$110M, goods, lifestyle, Marketplace, past, pushing, raises, resale, StockX, valuation

Detroit-based StockX, which provides a way for people to resell luxury and lifestyle goods including streetwear, bags, watches and shoes, is now valued at over $1 billion based on its most recent raise of $110 million, just revealed by the New York Times. Alongside the raise, StockX is bringing on a new CEO – ecommerce vet and former eBay SVP Scott Cutler. Cutler replaces co-founder Josh Luber at the helm of the company, but he’ll continue to be the “public face” of the company according to the NYT, which is not unusual for…

Kotak Mahindra Bank raises foreign investment limit

February 27, 2019 Loknath DasBank, Foreign, investment, Kotak, limit, Mahindra, raises

Kotak Mahindra BankNSE -0.36 % Ltd on Tuesday raised the limit on total shareholding of foreign institutional investors and foreign portfolio investors in the company to 45 percent from 43 percent. The hike in the shareholding limit comes as the private-sector lender grapples with a central bank directive on reducing its Chief Executive Uday Kotak’s stake in the bank. [“source=economictimes.indiatimes”]

PFRDA raises NPS equity investment cap under ‘active’ choice, relaxes withdrawal norms

May 3, 2018 Loknath DasActive, cap, choice, equity, investment, Norms, NPS, PFRDA, raises, relaxes, Under, withdrawal

You will soon be able to opt for higher equity investment under the National Pension System’s (NPS) ‘active’ choice. The Pension Fund Regulatory and Development Authority (PFRDA) board of directors has approved increasing cap on equity investment in ‘active’ choice to 75% from current 50% for Private Sector Subscribers. Presently there is a cap of 50% on equity investment under active choice in NPS. A release issued by the PFRDA says that the increase in equity cap comes with a clause of tapering of the equity allocation after the age…

Qualcomm Raises Offer to Buy NXP Semiconductors

February 22, 2018 Loknath DasBuy, NXP, Offer, Qualcomm, raises, Semiconductors, to

US chipmaker Qualcomm raised its offer to buy NXP Semiconductors NV to $127.50 (roughly Rs. 8,265) per share on Tuesday, and said it now has the backing of the shareholder group led by Elliott Management that opposed the previous proposal. Qualcomm said it needs to buy a minimum 70 percent of NXP’s outstanding shares in a tender offer, instead of the 80 percent required in the earlier agreement. The latest offer values NXP at $44 billion (roughly Rs. 2.85 lakh crores). NXP’s shares were up 6.5 percent at $126.15 in premarket trading. The stock has…